<div>
 
 Funding
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/302494">
 Elsa
 </a>
 raised USD 23 million in a Series C funding round led by UOB Venture Management, UniPresident, and Asia Growth Investment Fund. The company intends to use the funds to accelerate the launch and expansion of its AI into international markets like Taiwan and Korea. (September 12, 2023; 
 <a href="https://www.finsmes.com/2023/09/elsa-raises-23m-series-c-funding.html">
 FinSMEs
 </a>
 )
 
 </li>
 </ul>
 
 M&amp;A
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/8893">
 Dreambox Learning
 </a>
 was acquired by 
 <a href="https://sp-edge.com/companies/397959">
 Discovery Education
 </a>
 , another EdTech company. The financial terms of the deal were not disclosed. Elliot Investment Management, which obtained a majority stake in Dreambox in 2021, will maintain a minority stake, alongside existing backer TPG&rsquo;s The Rise Fund. (August 29, 2023; 
 <a href="https://www.geekwire.com/2023/seattle-area-edtech-company-dreambox-learning-acquired-by-discovery-education/">
 GeekWire
 </a>
 )&nbsp;
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/49655">
 PowerSchool
 </a>
 acquired Neverskip, a Chennai-based enterprise resource planning software company for the education sector, with the aim of expanding its presence in India by targeting 1,000 schools and 2.5 million students in the next two to three years. The company plans to focus on tier 1 and 2 cities initially and later expand further across the country. (September 5, 2023; 
 <a href="https://timesofindia.indiatimes.com/business/india-business/powerschool-acquires-chennai-based-neverskip/articleshow/103388996.cms?from=mdr">
 The Times of India
 </a>
 )&nbsp;
 
 </li>
 </ul>
 
 Product update
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/80898">
 Duolingo
 </a>
 is introducing new math and music learning programs, with details to be revealed at the Duocon event on October 11. The new programs will offer users the ability to learn math and music within the same app. (September 6, 2023; 
 <a href="https://venturebeat.com/games/duolingo-to-unveil-new-math-and-music-learning-programs/">
 Venturebeat
 </a>
 )&nbsp;
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/1527630">
 Savvas Learning Company
 </a>
 announced new math and reading solutions that are designed to engage students and provide evidence-based instructional resources for educators. Additionally, Savvas provides assessment tools and enhancements to its Savvas Realize platform to support teachers and students. (September 12, 2023; 
 <a href="https://finance.yahoo.com/news/savvas-announces-math-reading-solutions-151000602.html">
 Press release
 </a>
 )&nbsp;
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/509047">
 Elevate K-12
 </a>
 introduced Elevate Homeschool, a teacher self-service portal aimed at simplifying the process of matching qualified teachers with classes in need across the US. It simplifies the teacher selection process. (September 21, 2023; 
 <a href="https://www.prweb.com/releases/elevate-k-12-launches-elevate-homeroom-self-service-teacher-portal-301934856.html">
 Press release
 </a>
 )&nbsp;
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/376830">
 Outschool
 </a>
 launched its AI Teaching Assistant tool for tutors to create progress reports for students. AI Teaching Assistant allows tutors to input session details and generates paragraphs summarizing students&rsquo; performance, facilitating communication with parents. (September 19, 2023;
 <a href="https://techcrunch.com/2023/09/19/outschool-launches-an-ai-powered-tool-to-help-teachers-write-progress-reports/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAMN05YDslQdG31Wdl0GsaELciqM6ZRDxiqPJAqZ6RJ-22AN04VHVNsRCckQYbityAlkSqtss4NfDkkw1dGJLQpXg0Htp0Tgjc9Q92Diklf9dOUfUtAYkFCTz5RZs-13h4Pzg545gVUfqxmrnXw1xOmr36c4Yancv-EfahQw7PEVg">
 TechCrunch
 </a>
 )&nbsp;
 
 </li>
 </ul>
 
 Partnerships&nbsp;
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/66194">
 Khan Academy
 </a>
 partnered with Instructure, a US-based EdTech company, to create AI-driven tools for educators and students. The two EdTech companies are collaborating to develop &ldquo;Khanmigo,&rdquo; an AI-based teaching assistant and tutoring tool for students. Teachers will be able to use Khanmigo&rsquo;s generative AI to help plan lessons, create rubrics, grade basic assessments, and give feedback on writing. (September 19, 2023; 
 <a href="https://www.techbuzz.news/instructure-partners-with-khan-academy-to-launch-an-ai-teaching-assistant">
 techbuzz
 </a>
 )&nbsp;
 
 </li>
 </ul>
 
 Management changes
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/376328">
 Byju&rsquo;s
 </a>
 appointed Arjun Mohan as the CEO of its India operations, succeeding Mrinal Mohit. Mohan was previously chief business officer at Byju&rsquo;s and has experience leading UpGrad. (September 21, 2023; 
 <a href="https://www.newindianexpress.com/business/2023/sep/21/arjun-mohan-elevated-as-byjus-india-ceo-2616845.html">
 The New Indian Express
 </a>
 )
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/376328">
 Byju&rsquo;s 
 </a>
 is planning to reduce its workforce by approximately 5,500 positions as a part of a cost-cutting restructuring strategy. The staff reductions are expected to be limited to Byju&rsquo;s parent company, Think &amp; Learn, and will not affect its subsidiary entities. Notably, a significant number of affected roles are senior positions. (September 27, 2023; 
 <a href="https://chennaiprint.in/business/byjus-announces-restructuring-plans-to-trim-5500-jobs/">
 Chennaiprint.in
 </a>
 )&nbsp;
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/376328">
 Byju&rsquo;s
 </a>
 has formed an executive committee to appoint a new CEO and CFO for its test prep unit Aakash Educational Services (AESL). The committee will consist of founder and CEO Byju Raveendran, the group CFO of Byju&rsquo;s, the chief business officer at AESL, and the chief human resources officer at AESL. (September 2, 2023; 
 <a href="https://timesofindia.indiatimes.com/business/india-business/as-aakash-ceo-cfo-resign-byjus-forms-panel-to-appoint-new-leadership-oversee-affairs-at-its-test-preparation-unit/articleshow/103308756.cms?from=mdr">
 The Times of India
 </a>
 )
 
 </li>
 </ul>
 
 Geographic expansion
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/49655">
 PowerSchool
 </a>
 announced that the Western School District (WSD) in Modern, Manitoba, Canada, used PowerSchool Predictive Enrollment Analytics to support the opening of its new K-8 campus, Discovery Trials. WSD leveraged the Predictive Enrollment Analytics platform to generate data-backed insights regarding student enrollment trends, helping them to make informed decisions about the location, operation strategy, and capital funding needed for the new school. (August 31, 2023; 
 <a href="https://www.businesswire.com/news/home/20230830761294/en/PowerSchool">
 Press Release
 </a>
 )
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/509047">
 Elevate K12
 </a>
 is expanding its presence in Wisconsin for the 2023/2024 school year. The expansion includes partnerships with schools such as Osceola High School, Pardeeville High School, Wisconsin Dells High School, and an expansion across the Milwaukee Public School district. The expansion aims to address the ongoing teacher shortage crisis. (September 19, 2023;
 <a href="https://www.prweb.com/releases/elevate-k-12-expands-in-wisconsin-as-it-bring-its-high-quality-live-teaching-to-more-schools-around-the-united-states-301930186.html">
 Press Release
 </a>
 )&nbsp;
 
 </li>
 </ul>
 
 Industry news
 
 <ul>
 <li>
 
 <a href="https://sp-edge.com/companies/376328">
 Byju&rsquo;s
 </a>
 agreed with its term loan B lenders to postpone their legal battle in US courts until October 6, 2023, to allow for negotiations on an out-of-court settlement. (September 01, 2023; 
 <a href="https://inc42.com/buzz/byjus-tlb-lenders-out-court-settlement-defer-legal-proceedings/">
 Inc42
 </a>
 )&nbsp;
 
 </li>
 <li>
 
 <a href="https://sp-edge.com/companies/376328">
 Byju&rsquo;s
 </a>
 delayed payments to vendors Salesforce, Tableau, and Tooljet for about two months, accumulating vendor dues in the range of INR 450 million&ndash;500 million (~USD 5.4 million&ndash;6.0 million). The delay in vendor payments has resulted in Byju&rsquo;s losing access to data management tools, including Salesforce, as part of the company&rsquo;s cost-cutting measures and transition away from third-party services. (September 2, 2023; 
 <a href="https://www.republicworld.com/business-news/india-business/byjus-faces-delays-in-clearing-vendor-payments-amid-cost-cutting-measures-articleshow.html">
 Republicworld
 </a>
 )
 
 </li>
 </ul>
 
 
</div>

Remote learning is driving an education technology revolution.

EdTech: K-12

- Elsa, an AI company, raised $23 million in a Series C funding round to expand into international markets.
- Dreambox Learning was acquired by Discovery Education, although the financial terms were not disclosed.
- PowerSchool acquired Neverskip, a software company, to expand its presence in India.
- Duolingo is introducing new math and music learning programs to its app.
- Savvas Learning Company announced new math and reading solutions for students and teachers.
- Elevate K-12 launched a teacher self-service portal called Elevate Homeschool.
- Outschool launched an AI Teaching Assistant tool for tutors.
- Khan Academy partnered with Instructure to create AI-driven tools for educators and students.
- Arjun Mohan was appointed as the CEO of Byju's India operations.
- Byju's is planning to reduce its workforce by 5,500 positions as part of a cost-cutting restructuring strategy.
- Byju's formed an executive committee to appoint a new CEO and CFO for Aakash Educational Services.
- PowerSchool's Predictive Enrollment Analytics platform was used by the Western School District to support the opening of a new school.
- Elevate K-12 is expanding its presence in Wisconsin.
- Byju's postponed its legal battle with term loan B lenders for negotiations on an out-of-court settlement.
- Byju's delayed payments to vendors, resulting in a loss of access to data management tools.

All Updates

Monthly News Summary (September 2023)